About
The Fund has been actively investing in Maine companies since 1997, after its creation by an act of the Maine Legislature in 1995.
Over $56.2 million has been invested in Maine companies from the Fund, which operates as a revolving 'evergreen' fund.
MISSION
Maine Venture Fund invests in Maine businesses that have the highest potential for growth and impact.
MANAGEMENT TEAM
Joe Powers
Managing Director
Joe joined Maine Venture Fund in 2019. Prior to MVF, he worked for a number of startup technology firms (Tesla, Zoox, Clean Marine Energy) in a variety of roles. Joe also has experience as an entrepreneur (Ripso) and angel investor. Joe is an alumnus of Middlebury (BA) and Tuck (MBA).
Nina Scheepers
Principal
Nina joined Maine Venture Fund in 2021. Prior to MVF, she held a variety of roles at Unum, most recently as a Product Manager leading work to transform the company’s technology and operations. She is a Bowdoin and Tuck graduate and brings enthusiasm for both impact investing and Maine’s entrepreneurial ecosystem.
Terri Wark
Operations Manager
Terri joined Maine Venture Fund in 2001 and serves as the Fund’s Office Operations Manager. Prior to that, she was employed at the Finance Authority of Maine (FAME) in the Small Business and Commercial Loan Division. Ms. Wark attended the University of Maine.
BOARD OF DIRECTORS
Authority for the Maine Venture Fund resides with an eleven-member Board of Directors, the Small Enterprise Growth Board (SEGB).
Members have relevant experience and background in early-stage investing, managing high-growth small businesses, development of technological innovation, commercial lending, and securities law.
The Board works closely with prospective and current portfolio companies to provide invaluable advice, resources, and support.
Brien Walton
Chair
Brien Walton is the CEO of Acadia Capital Management, L3C, a strategic advisory firm focused on job creation in economically distressed communities, and director of the Richard E. Dyke Center for Family Business at Husson University. His career spans executive coaching, software engineering, corporate tax law, real estate development, commercial banking, and venture capital, including building an award-winning innovation hub at the University of Pennsylvania. Dr. Walton holds multiple graduate degrees from institutions including Penn, Harvard, and Georgetown, culminating in a Doctorate in Organizational Learning Leadership with a Wharton concentration in Leadership Development.
Peter DelGreco
Vice Chair
Mr. DelGreco serves as President and CEO of Maine & Company, a privately funded economic development organization charged with helping companies establish successful operations in Maine. During his tenure, the organization has attracted numerous companies to the state, collectively employing thousands of people across Maine. He holds a bachelor's degree from Colby College and an MBA from the University of Southern Maine.
Julie Viola
Treasurer
Ms. Viola is SVP, Commercial Banking Officer and Small Business Manager with Maine Community Bank, where she leads a commercial banking team and manages her own loan portfolio, bringing experience that includes over two decades at Gorham Savings Bank. She is an active volunteer with SCORE Maine as a Subject Matter Expert and co-presenter of their quarterly "Funding your Business" workshop, earning her the SBA Star Award in 2021 and Subject Matter Expert of the Year in 2025. A Portland native, she holds a B.S. from Bentley University and an MBA from Thomas College, and has served on boards including the Portland Economic Development Corporation and MCED.
Susan Ahern
Susan Majiu Ahern served as the first Vice President of Innovation at MaineHealth, where she co-founded four biomedical and life science companies, created and invested in seven startups, and achieved a 300% ROI while expanding the organization's IP portfolio. A recognized leader in innovation and economic development, her work with the Consulate General of Canada was awarded first in the world by the International Business Innovation Association. She is a graduate of Colby College, a member of the Damariscotta Class of Leadership Maine, and serves on the boards of the Maine Center for Entrepreneurship and Maine Venture Fund.
Elizabeth Chabe
Elizabeth Chabe (MBA, MS) is a bestselling author, entrepreneur, and strategic marketing consultant specializing in science, engineering, and technology organizations, and founder and CEO of High Touch Group. Her work has been featured in outlets including The New York Times, the BBC, and CNBC, and her background spans senior marketing roles at The Jackson Laboratory and global communications leadership for the Advanced Structures and Composites Center in Maine. She has served as a governor-appointed director of the Maine Venture Fund since 2018.
Helen Sterling Coburn
Ms. Coburn is a corporate and securities attorney at Bernstein Shur, where she co-chairs the firm's private capital group, counseling startups raising investment capital and representing investors in early-stage companies. She served on the inaugural Board of Directors of Startup Maine and currently sits on the investment committee of the Indus Fund, among several other advisory board roles. She holds a BA from Dartmouth College and a JD from Boston College Law School.
Jake Daniele
Jake Daniele advocates for small businesses and entrepreneurs through Maine's Office of Business Development, traveling the state to assist with resource navigation, investment attraction, and serving as the state government's small business ombudsman. Before joining DECD, he founded two promotional products companies and was a Libra Future Fund grant recipient, later earning his MBA from the University of Maine. He operates martial arts programs in Cumberland and Freeport and is a former Freeport Town Councilor.
Greg Fryer
Mr. Fryer heads the Securities Law Group at Verrill Dana, LLP, where a substantial part of his practice focuses on advising startups and investors in capital-raising transactions, alongside work in corporate law, securities regulation, and mergers and acquisitions. He has been associated with the Small Enterprise Growth Board since 1997, first as counsel and later as a board member, and previously served as a member of Maine Angels. Verrill Dana is a New England regional firm of more than 150 lawyers with offices in Portland, Boston, and Westport.
Susan Hammond
Ms. Hammond, a Penobscot Nation tribal member, spent 20 years as Executive Director and co-founder of Four Directions Development Corporation, a Native-governed CDFI serving Maine's four tribes, and now serves as Relationship Manager for Native CDFIs nationwide at Fahe. She has been recognized with the Maine SBA Minority Small Business Advocate of the Year Award, the Visionary Leader Award, and the Circle of Honor Award from Opportunity Finance Network and Oweesta Corporation. She serves on the boards of Maine Community Foundation, Bangor Savings Bank, Coastal Enterprises Inc., and Oweesta Corporation, and holds a BS in Business Administration from the University of Maine at Orono.
Justin Young
Mr. Young is Assistant Vice President at Unum Ventures, the corporate venture capital arm of Unum Group, where he leads sourcing, evaluation, and investment management for early-stage companies transforming employee benefits, work, and longevity. He holds an MBA from Boston University's Questrom School of Business, a bachelor's degree in economics from the University of Connecticut, and completed the Venture Capital Executive Program at UC Berkeley's Haas School of Business. He resides in South Portland, Maine, with his family.
